Issue and repurchase of Class C shares under incentive program in ITAB
The Board of Directors of ITAB Shop Concept AB (publ) (”ITAB”) has today resolved to issue and immediately thereafter repurchase 4,400,000 Class C shares.
Based on the authorisation from the Annual General Meeting on 10 May 2022, the Board of Directors of ITAB has resolved to increase the share capital by SEK 1,833,342.85 through a directed cash issue of 4,400,000 Class C shares to Nordea Bank Abp, filial i Sverige (“Nordea”) at a subscription price corresponding to the quota value of the shares. Furthermore, the Board of Directors of ITAB has resolved to immediately repurchase all 4,400,000 Class C shares from Nordea at a price corresponding to the subscription price.
The purpose of the issue and the repurchase is to ensure delivery of ordinary shares to employees within the ITAB Group who participate in the performance-based incentive program, LTIP 2022, that was adopted at the Annual General Meeting on 10 May 2022, by ITAB subsequently converting the Class C shares into ordinary shares.
ITAB holds no own shares since before, but will, after the repurchase of the newly issued Class C shares, hold all 4,400,000 Class C shares in ITAB. The Class C shares do not entitle to dividends and have 1/10 of a vote each.
Jönköping, 14 December 2022
ITAB Shop Concept AB (publ)
This information was submitted for publication,
This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
Telephone: +46-73 232 16 35
Mats Karlqvist, Head of Investor Relations
Telephone: +46-70 660 31 32
ITAB Shop Concept AB (publ), Box 9054, SE-550 09 Jönköping, Sweden
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has annual sales of approximately SEK 6.9 billion and approximately 2,900 employees. ITAB’s share is listed on Nasdaq Stockholm.